Philippine car manufacturing up 13.2% in first 5 months of 2024

Meanwhile, the production of Thailand, Indonesia, and Vietnam lags.

Car manufacturing in the Philippines has increased by 13.2% growth in car production over the first five months of 2024, a report from the ASEAN Automotive Federation (AAF) disclosed.

As of May 2024, 54,045 motor vehicle units have been produced in the country compared to 47,761 units in the same period last year.

Amongst ASEAN countries, only three have shown positive growth in car manufacturing: the Philippines, Malaysia with 12.2% growth, and Myanmar with an impressive 847.2% growth. 

Noteworthy is Myanmar which only produced 89 units in the same period of 2023.

On the other hand, car manufacturing in Thailand, Indonesia, and Vietnam has declined, with Thailand experiencing a 16.9% decrease, Indonesia down by 20.6%, and Vietnam dipped by 8.7%. 

Car production across ASEAN has decreased by 12% compared to the previous year.

As for motorcycle manufacturing, the Philippines has seen a slight dip in production, with 568,118 units produced compared to 544,028 units in 2023, a decrease of 4.2%. 

Malaysian motorbike production is down by 16.6%, Thailand by 9%, and Indonesia by 2.4%. Motorcycle manufacturing across ASEAN has decreased by 4.7%.